MINNEAPOLIS, May 12 /PRNewswire/ -- MGI PHARMA, INC. (NASDAQ: MOGN), a specialty pharmaceutical company, announced today at its annual shareholders meeting that it has acquired the patent rights to new anti- estrogenic cancer agents that will be studied as potentially useful therapeutics for breast cancer. While the agents are still in a very early stage of development, one of the agents (Analog II) has been tested in animals with promising results.
MGI PHARMA acquired the patent rights to the anti-estrogenic agents from Research Corporation Technologies, an organization that helps universities place their technologies with companies capable of developing and marketing products. The discovery and initial studies with the agents were conducted at the University of Oklahoma.
During today's meeting, the company's management team of Dr. Kenneth Tempero, Dr. Charles Muscoplat and James Adam, provided a review of company activities for the previous year, including the recent acceptance for publication in major medical peer-review journals of manuscripts prepared by investigators involved in MGI's two different pivotal studies with pilocarpine.
One of the articles has been accepted for publication in the June 1993 issue of the Journal of Clinical Oncology and will be presented next week at the American Society of Clinical Oncology (ASCO) meeting in Orlando, Florida. The other article has been accepted for future publication in the New England Journal of Medicine. MGI has developed pilocarpine as a potential treatment for radiation-induced dry mouth in head and neck cancer patients.
The company submitted its New Drug Application for the drug to the Food and Drug Administration in February 1992.
Other highlights reviewed at the meeting included the company's active acquisition program (which has resulted in several new products being added to the company's portfolio), the advancement of clinical programs, and the completion of an agreement with EuroCetus, the European oncology division of Chiron Corp., whereby MGI granted EuroCetus the European registration and marketing rights to Salagen(R) tablets (pilocarpine).
All of the items up for vote by MGI's shareholders were approved by at least a two-thirds majority of all shares outstanding.
MGI PHARMA is a pharmaceutical company that acquires, develops and markets pharmaceuticals prescribed by physician specialists. Its initial focus is on developing products that improve the quality of life for critically and chronically ill patients. It is currently marketing DIDRONEL(R) I.V. Infusion and Oratect(R) Gel to cancer specialists throughout the United States, developing several promising new drugs, and awaiting approval for Salagen(R) tablets from the Food and Drug Administration (FDA).
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/CONTACT: Lori Weiman of MGI PHARMA, 612-939-4666/
(MOGN)

CO: MGI PHARMA, Inc. ST: Minnesota IN: MTC SU:

AL -- MN001 -- 7558 05/12/93 12:00 EDT

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